Farmland Market - An increase in Supply
Despite recent statistics from the Royal Institution of Chartered Surveyors (RICS), showing a small decrease in farmland prices in the past eight months, compared with a 25% increase last year, we have seen an increase in supply with sufficient demand to maintain prices, at least in the short term.
As long as the City and the business sector continue to prosper then demand from those who wish to combine the enjoyment and cache of living on and owning a farm or estate will continue. It offers the stability of value associated with agricultural property as well as significant tax advantages, particularly 100% inheritance Tax relief.
One particular trend has been the tendency to see poor quality farm dwellings replaced with substantially bigger and better houses. Chacombe Hill Farm, just outside Banbury, is a good example. Sold by Fisher German in September 2003 above the £850,000 guide price, it is back on the market with consent for a 4,450 square foot house at £1.25 million. There are other cases where planning consent has been obtained, some over 10,000 square feet.
For further information please contact Charles Haselwood on 01295 226283.
- Ashby de la Zouch
- 01530 412821
- Banbury
- 01295 271 555
- Knutsford
- 01565 757970
- Market Harborough
- 01858 410 200
- Newark
- 01949 851815
- Southampton
- 02380 883150
- Stafford
- 01785 220 044
- Worcester
- 01905 453275
